Dayforce (NYSE:DAY) Price Target Lowered to $83.00 at Citigroup

Dayforce (NYSE:DAY) had its price target cut by Citigroup from $90.00 to $83.00 in a research note released on Thursday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also weighed in on DAY. KeyCorp upped their price objective on Dayforce from $80.00 to $92.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 13th. Barclays reduced their price target on Dayforce from $84.00 to $80.00 and set an “equal weight” rating on the stock in a research report on Friday, January 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $80.00 price target (down previously from $85.00) on shares of Dayforce in a report on Wednesday, January 8th. Needham & Company LLC raised their price objective on shares of Dayforce from $82.00 to $95.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus lifted their price objective on shares of Dayforce from $82.00 to $90.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.07.

Dayforce Trading Down 0.1 %

Shares of DAY stock opened at $70.17 on Thursday. Dayforce has a fifty-two week low of $47.08 and a fifty-two week high of $82.69. The company has a 50 day moving average price of $75.75 and a 200 day moving average price of $64.46. The stock has a market capitalization of $11.07 billion, a P/E ratio of 212.63, a price-to-earnings-growth ratio of 2.61 and a beta of 1.26. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.15 and a current ratio of 1.15.

Insider Buying and Selling

In other news, CEO David D. Ossip sold 858,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $79.55, for a total transaction of $68,309,346.35. Following the transaction, the chief executive officer now directly owns 794,527 shares in the company, valued at approximately $63,204,622.85. This trade represents a 51.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Stephen H. Holdridge sold 1,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $76.26, for a total transaction of $76,260.00. Following the completion of the sale, the chief operating officer now owns 121,022 shares of the company’s stock, valued at approximately $9,229,137.72. This trade represents a 0.82 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 862,697 shares of company stock worth $68,601,106 in the last quarter. 4.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Dayforce

Several hedge funds have recently made changes to their positions in DAY. Bleakley Financial Group LLC raised its stake in Dayforce by 9.9% during the 3rd quarter. Bleakley Financial Group LLC now owns 4,867 shares of the company’s stock valued at $298,000 after acquiring an additional 439 shares during the last quarter. Quent Capital LLC purchased a new stake in shares of Dayforce during the third quarter worth approximately $28,000. HighTower Advisors LLC lifted its holdings in shares of Dayforce by 11.0% during the third quarter. HighTower Advisors LLC now owns 6,083 shares of the company’s stock worth $368,000 after purchasing an additional 602 shares during the period. State of New Jersey Common Pension Fund D grew its position in Dayforce by 1.1% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 56,294 shares of the company’s stock valued at $3,448,000 after buying an additional 640 shares during the last quarter. Finally, Farther Finance Advisors LLC acquired a new position in Dayforce in the 3rd quarter valued at $40,000.

About Dayforce

Dayforce Inc, together with its subsidiaries, operates as a human capital management (HCM) software company in the United States, Canada, and internationally. It offers Dayforce, a cloud HCM platform that provides human resources, payroll and tax, workforce management, wallet, benefits, and talent intelligence functionalities; and Powerpay, a cloud HR and payroll solution for the small business market.